BCE
BCE Inc.
BCE's fundamentals are strong: its operating margin rose 21 points to 43% and earnings per share grew more than tenfold, though free cash flow fell 19%. Its PE isn't a useful guide right now because of how its recent earnings were reported.
NBIS
Nebius Group N.V.
There isn't enough reported data to score NBIS yet.
BCE Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Stable | |
| Stable |
BCE's profitability is currently strong, and its revenue, cash flow and balance sheet are stable.
NBIS Fundamentals
| Metric | Status |
|---|---|
| Unavailable | |
| Healthy | |
| Unavailable | |
| Healthy |
NBIS's profitability and balance sheet are currently healthy. There isn't enough data to rate its revenue and cash flow.
BCE PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 4.5x | $21.35 | — |
| Cheap | 17x | $80.60 | +278% |
| Fair | 20x | $96.55 | +352% |
| Expensive | 23x | $109 | +411% |
Historical ranges are pointers, not guarantees.
BCE has the edge over NBIS in the historical PE scenario, which offers more potential upside but is not a forecast.
NBIS PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 68x | $22.45 | -83% |
| Fair | 114x | $37.67 | -71% |
| Current | 390x | $129 | — |
| Expensive | 666x | $220 | +71% |
Historical ranges are pointers, not guarantees.
NBIS's PE is 390x, but its earnings don't support one, so it isn't a reliable read right now.
BCE Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Stable | |
| Stable | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect BCE's earnings, revenue and profitability to hold roughly steady.
NBIS Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses steady | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Low |
NBIS has the edge over BCE on the outlook, with more favorable revenue and profitability expectations.
BCE Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $4.74 | +1381% |
| Q1 2026 | $4.75 | +1483% |
| Q4 2025 | $4.77 | +3569% |
| Q3 2025 | $4.67 | +7683% |
| Q2 2025 | $0.32 | -79% |
| Q1 2025 | $0.30 | -78% |
| Q4 2024 | $0.13 | -92% |
| Q3 2024 | $0.06 | -96% |
BCE has the edge over NBIS in the latest year-over-year earnings comparison.
NBIS Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q4 2025 | $0.33 | +$2.61 |
| Q4 2024 | -$2.28 | -456% |
| Q4 2023 | $0.64 | -36% |
| Q4 2022 | $1.00 | +$1.49 |
| Q4 2021 | -$0.49 | -156% |
| Q4 2020 | $0.87 | +89% |
| Q4 2019 | $0.46 | -73% |
| Q4 2018 | $1.71 | +434% |
NBIS has returned to profit: it earned $0.33 per share over the past year, after losing money the year before.
BCE Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.3B | +1.5% |
| Q1 2026 | $4.3B | +4.3% |
| Q4 2025 | $4.5B | -0.6% |
| Q3 2025 | $4.3B | +1.3% |
| Q2 2025 | $4.3B | +1.3% |
| Q1 2025 | $4.2B | -1.3% |
| Q4 2024 | $4.5B | -0.8% |
| Q3 2024 | $4.2B | -1.8% |
BCE has the edge over NBIS in the latest year-over-year revenue comparison.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 21% | -1.3 points |
| Q1 2026 | 21% | -1 points |
| Q4 2025 | 104% | +83 points |
| Q3 2025 | 24% | -0.5 points |
| Q2 2025 | 23% | -1 points |
| Q1 2025 | 22% | 0 points |
| Q4 2024 | 21% | +0.8 points |
| Q3 2024 | 25% | +25 points |
BCE's operating margin was 21% last quarter, down 1.3 points from the same quarter a year ago.
NBIS Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q4 2023 | $9.7B | +53% |
| Q4 2022 | $6.3B | +46% |
| Q4 2021 | $4.3B | +63% |
| Q4 2020 | $2.6B | +24% |
| Q4 2019 | $2.1B | +37% |
| Q4 2018 | $1.5B | +36% |
| Q4 2017 | $1.1B | +24% |
| Q4 2016 | $917M | +27% |
NBIS's revenue is growing: $530M last quarter, down 80% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q4 2025 | -115% | -112 points |
| Q4 2023 | 3.6% | -11 points |
| Q4 2022 | 2.5% | -14 points |
| Q4 2021 | -3.7% | -18 points |
| Q4 2020 | 7.4% | -9.5 points |
| Q4 2019 | 14% | -2 points |
| Q4 2018 | 16% | -14 points |
| Q4 2017 | 14% | -19 points |
NBIS's operating margin was −115% last quarter, down 123 points from the same quarter a year ago, near the bottom of its range since 2011.
BCE Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $761M | -8.6% |
| Q1 2026 | $217.1M | -47% |
| Q4 2025 | $171.5M | -62% |
| Q3 2025 | $717.1M | +17% |
| Q2 2025 | $832.4M | +40% |
| Q1 2025 | $411.3M | +510% |
| Q4 2024 | $446.5M | -37% |
| Q3 2024 | $615.2M | +48% |
BCE still generates free cash flow, though less than at its 2020 peak: $1.9B over the past year.
NBIS Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q4 2025 | -$3.7B | -$3.1B |
| Q4 2024 | -$562.1M | -$316.2M |
| Q4 2023 | -$245.9M | -$138.9M |
| Q4 2022 | -$107M | +$319.7M |
| Q4 2021 | -$426.7M | -539% |
| Q4 2020 | $97.3M | -66% |
| Q4 2019 | $287.9M | +$289.2M |
| Q4 2018 | -$1.3M | -101% |
NBIS has burned cash in six of the last eight quarters: −$4.6B over the past year, against −$43M the year before.
BCE Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -- |
| 1 year | +0.2% | +1.6M shares |
| 3 years | +2.2% | +20M shares |
| 5 years | +3% | +27.2M shares |
| Available history | +3.4% | +30.3M shares |
BCE has 933M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | $44.3M |
| Q1 2026 | $66.3M |
| Q4 2025 | $27.4M |
| Q3 2025 | $47.1M |
| Q2 2025 | $27.4M |
| Q1 2025 | $49.3M |
| Q4 2024 | $31.8M |
| Q3 2024 | $29.5M |
BCE spent $185M buying back its own shares over the past year, up 34% from the year before.
NBIS Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -12% | -33.3M shares |
| 1 year | -32% | -115M shares |
| 3 years | -26% | -86.9M shares |
NBIS has the edge over BCE on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2024 | $10M |
| Q4 2021 | $84.1M |
| Q4 2020 | $122.8M |
| Q4 2019 | $17.2M |
| Q4 2018 | $121.8M |
| Q4 2014 | $101.7M |
| Q4 2013 | $102.9M |
BCE Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 2.6x | Moderate |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 2.6x | Moderate |
| Q3 2025 | 2.8x | Moderate |
| Q2 2025 | 4.6x | High |
| Q1 2025 | 4.7x | High |
| Q4 2024 | 4.8x | High |
| Q3 2024 | 5.0x | High |
BCE's net debt is about 2.6 years of its operating earnings (EBITDA), down from 4.5 years a year ago.
NBIS Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2023 | 0.7x | Very low |
| Q4 2022 | -0.7x | Net Cash |
NBIS's net debt is less than a year of its operating earnings (EBITDA).
BCE Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 45.7 | Neutral |
| Stochastic | 46.3 | Neutral |
BCE's weekly RSI is 46 (neutral) and its Stochastic is 46 (neutral).
NBIS Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 38.0 | Neutral |
| Stochastic | 8.3 | Oversold |
NBIS's weekly RSI is 38 (neutral) and its Stochastic is 8 (oversold).
BCE PE vs Communication Services Sector
| Metric | BCE | Sector median | Relative |
|---|---|---|---|
| PE | 4.5x | 16x | 73% below |
| PE % | 3 | 26 | 23 pts below |
BCE has the edge over NBIS on valuation relative to its sector.
NBIS PE vs Communication Services Sector
| Metric | NBIS | Sector median | Relative |
|---|---|---|---|
| PE | 390x | 16x | 2,264% above |
| PE % | 62 | 24 | 38 pts above |
NBIS is trading at 390x earnings, a 2264% premium to the Communication Services sector's median of 16x, though its earnings don't support one.
BCE Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.5 | 4.4% above |
| 20 week MA | $21.7 | 1.5% below |
| 50 week MA | $23.4 | 8.6% below |
| 100 week MA | $23.3 | 8.3% below |
| 200 week MA | $30.9 | 31% below |
NBIS has stronger trend alignment. BCE is above 1 of 5 weekly averages versus NBIS above 1 of 4.
NBIS Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $179.7 | 28% below |
| 20 week MA | $199.9 | 36% below |
| 50 week MA | $163.5 | 21% below |
| 100 week MA | $110.0 | 17% above |
NBIS has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 17% above its 100-week average.
BCE Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.3 | $42.8 | -7.7% |
| 2021 | $42.8 | $51.3 | +20% |
| 2022 | $51.3 | $44.2 | -14% |
| 2023 | $44.2 | $39.4 | -11% |
| 2024 | $39.4 | $22.7 | -42% |
| 2025 | $22.7 | $23.1 | +1.7% |
| 2026 YTD | $23.1 | $21.4 | -7.4% |
BCE has finished lower in four of the last six years. It's down 7.4% so far in 2026.
NBIS Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $19.6 | $27.3 | +40% |
| 2025 | $27.3 | $87.6 | +221% |
| 2026 YTD | $87.6 | $128.6 | +47% |
NBIS has the edge over BCE on returns for 2026, with the stronger performance.